I like Max. Watch him when I surf over him on Russian TV. Sadly....I think he's totally correct on too much of what he says. Had an excellent show just yesterday on.............debt. The worlds debt is now 3.5 times the worlds GDP. "...debt has been commoditized..." The Super Rich over inflating land/real estate values as one of the few places they can "put" their money. Lots of good stuff.................but what to DO with it??? My conclusion: can't do a thing about it.........but its good to recognize why your society is going down the {!#%@} hole.

Dylan Rattigan on msnbc some years ago had much the same messaging....before he was taken off the air. Breeding rabbits now or something.

Fox Busines/Trump/Republicans: still pumping out the garbage though. One massive con after another.

Real Name: bobbo the existential pragmatic evangelical anti-theist and Class Warrior.
Asking: What is the most good for the most people?
Sample Issue: Should the Feds provide all babies with free diapers?

Loosing the power of the global reserve currency could be the one extremely devastating for the US economy on the medium term ...
... and the best thing that could happen in the long term: US exports, imports and debt are extremely skewed by the fact that the money chaining hands is in domestic currency.

ElectricMonk wrote: US exports, imports and debt are extremely skewed by the fact that the money chaining hands is in domestic currency.

High finance/economics has always been a bit of a mystery to me. Can you explain this a bit, or bullet why this is true, or provide a link that explains it?

Real Name: bobbo the existential pragmatic evangelical anti-theist and Class Warrior.
Asking: What is the most good for the most people?
Sample Issue: Should the Feds provide all babies with free diapers?

ElectricMonk wrote: US exports, imports and debt are extremely skewed by the fact that the money chaining hands is in domestic currency.

High finance/economics has always been a bit of a mystery to me. Can you explain this a bit, or bullet why this is true, or provide a link that explains it?

The global trade in raw materials is done in dollars: that means that, for example, Germany, has to buy Dollars from the US before it can buy oil from Saudi Arabia, thus strengthening the $ without the US needing to do anything.
The lack of exchange rates for US importers also means that there is far less uncertainty from fluctuations.
And the US debt (in dollars) loses value with inflation, unlike debt that countries have to take in foreign currency.

If the Yuan becomes the new Reserve Currency, the value of the $ would plummet, making exports more competitive and force the economy become more self-sufficient due to rising import costs. But that is also the reason why China is loath to assume this role, even if it would stroke their Ego.

Thanks EM...I kinda get that, but what threw me off was "...extremely skewed by the fact that the money changing hands is in domestic currency." IOW, what does the fact that the US $ is used as our domestic currency got to do with int'l trade or its "value"?

If you explain it perfectly, odds are about 30% I'll understand it.

Quibble?: Last I heard, Germany has always had a trade surplus with USA and therefore should be looking for ways to "get rid" of its Dollars? aka: no reason to "buy" them...........or am I missing a subtlety?

Real Name: bobbo the existential pragmatic evangelical anti-theist and Class Warrior.
Asking: What is the most good for the most people?
Sample Issue: Should the Feds provide all babies with free diapers?

Because international trade is done in $, there is an artificially high demand for the currency, more so than if countries dealt only in the currency of the import and export state.
This, in return, makes the US lean towards Imports vs. exports, since it is simply cheaper to buy things from abroad than to manufacture at home.

Makes my head hurt........but I think these kinds of issues and others beyond my ken are what gets Max so excited=>Bitcoin!! Its money, so I suspect just another scam.

Real Name: bobbo the existential pragmatic evangelical anti-theist and Class Warrior.
Asking: What is the most good for the most people?
Sample Issue: Should the Feds provide all babies with free diapers?